Rajasthan unveils RIPS to boost renewable energy investments
Author: PPD Team Date: October 28, 2024
The Rajasthan government has introduced the Rajasthan Investment Promotion Scheme (RIPS) to enhance renewable energy investments, tapping into its potential of 24.22 GW in solar energy and 5.19 GW in wind energy.
Under RIPS, enterprises investing in solar, wind, hybrid, and energy storage projects, including battery energy storage systems and biomass, receive various incentives. The scheme offers a 100 per cent subsidy on cross-subsidy and additional surcharges for renewable energy used in green hydrogen production within Rajasthan, valid for seven years.
Additional incentives include exemptions on transmission and wheeling charges for renewable-integrated storage projects and standalone battery storage systems, fostering green energy development across the state.